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  1. #1
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    peterpan's Avatar
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    Is Saab going tits up?

    Saab on the brink of closure


    Swedish car maker Saab is so close to going bust that it can't afford to pay its staff this month. It has already suspended production because it has failed to pay suppliers.
    The company has been in trouble for years, having been catastrophically mismanaged by owner General Motors (GM), but it found hope when a new buyer took over.
    That buyer, Spyker, promised to return Saab to its glory days with fresh investment and a different approach to new models. The 9-3 and 9-5 Saabs built under GM were never anywhere near the best of the premium classes they competed in.
    Spyker, a Dutch supercar maker, bought Saab from GM at the beginning of 2010. It even sold its supercar business to concentrate on running Saab.
    Unfortunately, Spyker needed to attract considerable outside investment to turn Saab's fortunes around quickly, and it has failed to do so.
    Saab's sales in 2010 were miserable - only 30,000 cars were sold worldwide. The company needed to sell 120,000 just to break even. To put those sales into perspective, Vauxhall has sold 30,000 Corsas in the UK alone so far this year.
    The new 9-5 executive saloon (pictured), which competes with cars like the BMW 5 Series and the Audi A6, was met with a lukewarm reception when it was launched last year, resulting in lacklustre sales.
    And the company's latest car, the 9-4X crossover, which was developed by GM but stalled while the sale to Spyker went through, is already receiving less-than-enthusiastic reviews. It goes on sale in the UK in December, assuming Saab is still around then.
    When Spyker bought Saab it did so with around 350 million from the European Investment Bank. That money has dried up, and it's unlikely that Spyker will be able to attract more.
    However, two Chinese companies have declared interest in investing, Zhejian Youngman Lotus Automobile and Pang Da Automobile, but it's now thought they will simply wait until Saab goes bust, then buy the brand rights and assets for a minimal sum - the same thing that Nanjing Automobile Group did when MG Rover went under in 2005.
    Spyker has made no official announcement about its predicament yet, apart from confirming "discussions with various pa
    Never even driven one
    http://uk.cars.yahoo.com/24062011/36...closure-0.html

  2. #2
    sabaii sabaii
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    ^ The Saab 900 Turbo was a nice motor back in the day. Does look dated now though




    What Saab Should Do. Bring Back the Saab 900.





    What Saab Should Do. Bring Back the Saab 900. |

  3. #3
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    The Thais are looking to bail them out...

    Changing the name to Sabaii...


  4. #4
    Have you got any cheese Thetyim's Avatar
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    Saab only ever made one decent model and that was the Sonnet in 1966

  5. #5
    sabaii sabaii
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    Sounds nice

  6. #6
    sabaii sabaii
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  7. #7
    I am in Jail
    Butterfly's Avatar
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    the Chinese should buy them out like they did with other brands

  8. #8
    sabaii sabaii
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    Someone will probably wait until it goes to the wall and just by the marque like Tata did with Rover

  9. #9
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    Marmite the Dog's Avatar
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    Quote Originally Posted by Thetyim
    Saab only ever made one decent model and that was the Sonnet in 1966
    Have to disagree. My ex had a Saab convertible and it was jolly nice.

    Not a surprise to see them struggling though. GM couldn't manage their way out of a paper bag.

  10. #10
    Thailand Expat Boon Mee's Avatar
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    Quote Originally Posted by Marmite the Dog View Post
    GM couldn't manage their way out of a paper bag.
    That's because it's run by the US Government. Before that, it were the unions that destroyed it...

  11. #11
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    Quote Originally Posted by Boon Mee View Post
    Quote Originally Posted by Marmite the Dog View Post
    GM couldn't manage their way out of a paper bag.
    That's because it's run by the US Government. Before that, it were the unions that destroyed it...
    GM are still useless whoever you try to put the blame on.

  12. #12
    Have you got any cheese Thetyim's Avatar
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    Quote Originally Posted by Marmite the Dog
    My ex had a Saab convertible and it was jolly nice.
    Nice for posing but not a drivers car

  13. #13
    Thailand Expat Boon Mee's Avatar
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    Quote Originally Posted by Marmite the Dog View Post
    Quote Originally Posted by Boon Mee View Post
    Quote Originally Posted by Marmite the Dog View Post
    GM couldn't manage their way out of a paper bag.
    That's because it's run by the US Government. Before that, it were the unions that destroyed it...
    GM are still useless whoever you try to put the blame on.
    Quite.

    I'd never purchase a vehicle made from Detroit or its overseas subsidiaries.

  14. #14
    Days Work Done! Norton's Avatar
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    Saab has and always will appeal to a niche market unless a complete rethink of company philosophy happens. With average annual sales of around 100,000 vehicles worldwide since early 80s they are a bit player. This level of sales is OK for Ferrari and the like but Saab is certainly not in their league because they offer no "value" to the niche market and continue to offer models which attempt to compete in the high volume market. To compete in this market, frequent model changes, innovation and "value" which appeals to mass market is needed. All require big company costs.

    Saab's last "new" model was introduced 11 years ago. All in between have simply been cosmetic or minor technical updates.

    Quote Originally Posted by peterpan
    Is Saab going tits up?
    Gone tits up would be more correct. Their demise was inevitable. Competing in the mass market without sufficient sales income for IR&D leading to innovation has caught up with them.

    Should anyone buy them they better be prepared for a huge investment or it will simply be a matter of time before Saab is just another of the many small auto makers who no longer exist.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect.

  15. #15
    In transit to Valhalla

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    ^
    Agree it will be almost impossible for Saab to survive where they are trying to compete.

    Shame to see them go though, Volvo and Saab has had a lot of influence in making cars safer all over the world.

  16. #16
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by larvidchr
    Shame to see them go though.
    Always a shame when the smaller guys have to fold up their tent but such is the nature of the industry.

    A list of defunct car companies in US alone. Probably more in Europe.

    http://en.wikipedia.org/wiki/List_of..._manufacturers

    Pretty clear why some had less than mass appeal.


  17. #17
    I am in Jail

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    Sooner they go down the toilet the better!
    Truly awful cars for the masses.
    Wish Volvo would join them too

  18. #18
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    GM was certainly a curse but the untying of Saab from their apron strings has been a travesty.

    The Chinese, if they are still interested, are simply waiting for it to go bust and then will pick up the marque for peanuts.

    Crying shame. Loved Saabs for their idiosyncracies - all that power through the front wheels, torque steer galore and a habit of putting you in the ditch as you tested the laws of physics. But, sitting in that drivers seat, one of the most comfortable designed, and enveloped by a dashboard that was a joy of clever simplicity was deeply satisfying on a long trip. Flicking the night switch on and off during tedious motorway journeys was a childish pleasure but quite irresisitible.

    The 900 was probably the last great Saab with an engine that could take you 300,000 miles if you didn't forget the oil although the chassis was from a Vauxhall Cavalier which is why one had to be careful lest those ditches became a feature of the journey.

    Who else put the ignition next to the gearbox? Locking it in gear and forgetting to put it back into neutral before next driving off was always a hazard. I was forever doing it when I had a hangover.

  19. #19
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    America never listened to W. Edward Deming...
    Japan listened...
    And the rest...
    They say...
    Is...
    History


  20. #20
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    Marmite the Dog's Avatar
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    Quote Originally Posted by Thetyim View Post
    Quote Originally Posted by Marmite the Dog
    My ex had a Saab convertible and it was jolly nice.
    Nice for posing but not a drivers car
    True, but 99.9% of people don't need to race on public roads. I'd prefer the Saab for everyday use than a Ferrari.

  21. #21
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    Mr Lick's Avatar
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    I owned 2 Saab's in the UK. The classic 900 turbo and the newer 9-3 S. Quite brilliant cars with bomb proof engines and advanced safety features.

    When you compare the quality build of Saab with say Rover who quite honestly built very poor quality cars that were more expensive there simply was no contest, yet Rover completely outsold Saab.

    A lot of people that have owned a Saab have bought another. They have a cult following hence the protest from owners when Saab attempted to alter the body stying in past decades.

    Unfortunately, because of Thailands high import duties i left my Saab back in the UK when i settled here. I miss it dreadfully

  22. #22
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    Khun Custard's Avatar
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    That's disappointing news.

    I've had Saab's for most of the past 20 years starting with 99's, then a 9000 Aero then 900 Vigan but it all came to an end with a Thai Draken.

    The 9000 Aero had the best car seats ever made.

    Simply not a car that can be properly maintained in Thailand without the risk of it being SaAbbott-aged

  23. #23
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    Saab says a big order means it can pay employee wages




    The Swedish carmaker Saab has announced a big order from a Chinese company, which means it now can afford to pay its staff.

    Last week, the company said it was too short of cash to make the payments.
    Now it has said that the pre-payment on a 13m euro ($18m; 12m) order for 582 Saab vehicles would give it the short-term funding it needs.

    Saab said it will also be able to make some payments to suppliers but would not yet be able to resume production.

    Saab did not identify the Chinese buyer.

    Earlier this month, Spyker said it had reached a deal with two Chinese firms to invest a total of 245m euros ($350m; 218m) in Saab.

    "I am pleased to announce this agreement, as it secures part of the necessary short-term funding for Saab Automobile and allows us to pay our employees' wages before the end of this month," said Victor Muller, head of Saab's owner Spyker Cars, which has just renamed itself Swedish Automobile.

    "Swedish Automobile and Saab Automobile continue their discussions with several parties to secure additional short-term funding to restart production."

    Saab was bought by the small Dutch firm Spyker from General Motors at the beginning of 2010.

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